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Ri sk Factors
−Removed: There were no material changes to the risk factors previously disclosed in Part 1, Item 1A.
+Added: Except as set forth below, there were no material changes to the risk factors previously disclosed in Part 1, Item 1A.
of our Form 10-K, which is incorporated by reference herein.
+Added: Our business depends, in part, on royalty-based and advertising-based revenue models, which are inherently risky.
+Added: Our business is dependent, in part, on future royalties and/or advertising revenues paid to us by customers and partners.
+Added: Royalty payments under our licenses may be based upon, among other things, the number of subscribers for Pay-TV, a percent of net sales, a per-unit sold basis or a fixed monthly, quarterly or annual amount.
+Added: Advertising-related revenue may be based upon, among other things, the number of viewers who watch a particular service, availability of inventory, advertiser interest and opportunities to personalize advertisements.
+Added: We are dependent upon our ability to structure, negotiate and enforce agreements for the determination and payment of royalties and advertising-based revenue, as well as upon our customers’
+Added: and partners’
+Added: compliance with their agreements.
+Added: We face risks inherent in royalty-based and/or advertising-based business models, many of which are outside of our control, such as the following:
+Added: the number of subscribers our Pay-TV customers have or the number of set top boxes our Pay-TV customers provide to their end-user subscribers;
+Added: the number of end users and time spent viewing content and advertising available within devices that incorporate our licensed technology;
+Added: the rate of adoption and incorporation of our technology by semiconductor manufacturers, assemblers, foundries, manufacturers of consumer and communication electronics, and the TV, automotive, consumer electronics, and surveillance industries;
+Added: the willingness and ability of suppliers to produce materials and equipment that support our licensed technology in a quantity sufficient to enable volume manufacturing;
+Added: the willingness and ability of advertisers to use our advertising placements that are available via our licensed technology;
+Added: the willingness and ability of content owners and content aggregators to make their content available via our licensed technology;
+Added: the willingness and ability of advertising technology partners to license their products and services to us for use in our licensed technology;
+Added: ability of our customers to purchase such materials and equipment on a cost-effective and timely basis;
+Added: the length of the design cycle and the ability of us and our customers to successfully integrate certain of our technologies into integrated circuits;
+Added: the demand for products that incorporate our licensed technology;
+Added: the cyclicality of supply and demand for products using our licensed technology;
+Added: the seasonal nature of advertising consumption and the associated variance to revenue based on those changes;
+Added: the impact of economic downturns;
+Added: the impact of poor financial performance of our customers.
+Added: For example, the ability to enjoy digital entertainment content downloaded or streamed over the internet has caused some consumers to elect to cancel their Pay-TV subscriptions.
+Added: If our Pay-TV customers are unable to maintain their subscriber bases, the royalties they owe us will decline.
+Added: In addition, the recent strikes called by the Writers Guild of America and SAG-AFTRA reduced the demand for advertising and media and entertainment promotional spending campaigns, which could negatively impact our business and results of operations.
+Added: Although the strikes have been resolved, there can be no assurance that there would not be reduced demand for advertising and media and entertainment promotional spending campaigns for a period of time, which may adversely affect our business, financial condition, results of operations and cash flows.
Unregistered Sales of Equity Securities and Use of Proceeds
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.